LG Electronics Inc. will aggressively make an inroad into the North American super luxury appliance market over the next three years with its premium appliance lineups under its Signature Kitchen Suite brand, taking on its biggest rival Samsung Electronics Co. that also recently unveiled its premium kitchen built-in appliance lineups under U.S. luxury kitchen appliance maker Dacor.

LG Electronics will aim to gain solid footing in the Northern American super-luxury built-in kitchen appliance market “within three years,” LG Electronics Vice Chairman Jo Seong-jin said at the Kitchen and Bath Industry Show 2017 (KBIS) held in Orlando. “For the time being, we will focus to enhance our brand image” through collaboration with local companies that are leading players in the country’s construction and home interior industries, he added.

Signature Kitchen Suite is the Korean electronics giant’s premium built-in home appliance lineup launched in July last year at home and in the U.S. The company established it as a stand-alone brand to differentiate it from other general LG products, with an aim to target the global premium appliance market.

At the three-day KBIS event that kicked off on Jan. 10, Jo said that a brand itself is a design in the super-luxury home appliance market so it is urgent to build brand image. Jo said there would be a chance for LG Electronics to win consumers’ hearts in the market, citing a recent trend among the 40s and 50s taking interest in smart home appliances. LG Electronics recently announced it will equip its all home electronics under premium built-in brands including Signature Kitchen Suite to be rolled out this year with wireless internet connections that will enable remote control of the appliances through its smart home hub.

The super-premium built-in home appliance market in the North American region is estimated at around $2.7 billion, accounting for one third of the $9 billion built-in market, and it mainly targets customers whose annual income tops $200,000. The entire home appliance market in the region reaches roughly $25 billion in value.

Another electronics giant Samsung Electronics also unveiled two new premium appliance lineups under Dacor, a luxury kitchen appliance maker it acquired last year, at the KBIS, accelerating its efforts to win the world’s largest built-in home appliance market.

At the North America’s largest trade show for kitchen and bath companies, Jo also revealed that LG Electronics will target the super-luxury appliance market with Signature Kitchen Suite, LG Signature for the premium market and LG for the market for more affordable products.

Jo stressed that the firm stands a good chance in the premium home appliance market, pledging to create a new customer base with its “modern design, top-notch technology and delicacy.”

By Song Sung-hoon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]